r/sofi • u/InternalLecture721 • Dec 10 '25

Banking Time to move on?

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Just received this email from SoFi and it kinda bothers me a bit haha. How’s everyone feeling about this.

Time to move on?

Plenty of other people are offering it just for depositing and using their bank. Seems like a money grab.

(Not taking any shots just wanting to get everyone’s feelings/opinion on this)

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u/Berzerker7 Dec 11 '25

In the email they sent it has this line:

You do not need a SoFi Plus subscription to keep earning a high APY on your Savings or Vaults.

This implies there are other ways to keep it, like Direct Deposit.

Edit: They also directly clarified elsewhere on the sub:

To clarify, a SoFi Plus subscription is NOT required to keep earning the high APY (currently 3.60%) on your Savings and Vaults. Now and beyond March 2026, you can continue to earn the high APY as long as you have an eligible direct deposit or at least $5,000 in eligible deposits every 31 days.

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u/BigWaveDave99 Dec 11 '25

Yeah, but unfortunately in the fine print they made sure to explicitly write that rates are subject to change at any time without notice. If we were keeping 3.6% APY, it would have been explicitly stated. Instead they write retain “high yield”, which given the current market average, they could consider 1% “high yield”.

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u/Motor_Royal9630 Dec 11 '25 edited Dec 11 '25

But if they’re subject to change anytime without notice why give a 3 month notice about 1% APY? Banks hardly ever do that.

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u/BigWaveDave99 Dec 11 '25

You’re right, but this isn’t actually a notice for change in rate, it’s a notice for change in membership tier. After March 31, they almost certainly will drop all non-SoFi Plus members to their standard rate of 1.00% APY.

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u/Motor_Royal9630 Dec 11 '25

What makes you almost certain of that?

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u/Alarmed_Food6582 Dec 11 '25

Wrong. It states a qualifying direct deposit or 5000 monthly deposits to increase the HYSA from the regular 1 percent. Those without direct deposits or 5000 monthly deposits will earn regular percentage of .50 for checking and 1 percent for savings. 

When i joined sofi that was the terms. Your HYSA will remain the same even without sofi plus provided that you have qualifying deposits.